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Marks & Spencer set to announce 1000 job cuts

This week's announcement of the Marks & Spencer sales figures for the Christmas and New Year period is set to disappoint the market and will be accompanied by a rumoured 1000 job cuts. Those who regularly read this site will know that Marks & Spencer's changed its redundancy guidelines earlier this year and they now look like come into play much sooner than anyone had anticipated.

As we mentioned in one of our early posts there have been some mixed signals from the UK high street over the last few days with suggestions that trading may not be quite as bad as first thought. However, this will not stop many of the larger retailers from using the current situation to reduce their costs and staffing requirements in what is still a very different environment to the one they have been used to.

The fact that the situation on the UK high street is a little confusing is actually an improvement from the general consensus. Up until the last couple of days, when better-than-expected figures from John Lewis and New Look were announced, it had literally been all doom and gloom for the retail sector.

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